Business
Top of the Street: RTL Group, Land Securities, NN Group
Top of the Street: RTL Group, Land Securities, NN Group
About this update from Rtl Group S.a.
A round-up of notable broker activity this morning from Europe's top-ranked* analysts:** J.P. Morgan downgrades international media conglomerate RTL Group LUXSE:RTLL to "neutral" from "overweight", noting that its acquisition of Sky Deutschland may give the group 'years of indigestion' due to the German media company's continuing losses** Jefferies cuts British property firm Land Securities LSE:LAND to "underperform" from "hold", citing a 'debt drag' on the sector and execution risk in the company's strategy to recycle capital into the build-to-rent market** BofA Securities raises Dutch insurer NN Group EURONEXT:NN to "buy" from "neutral", pointing to an attractive valuation, strong operational outlook, and buyback expectations that are ahead of market consensus(*Analyst rankings from Thomson Reuters StarMine. The scale is from 1-star to 5-star with 5 being the best. Analysts are ranked on earnings accuracy as well as relative performance of recommendations over trailing 12-month & 24-month periods.)